Lone Star, Inc., reported sales of $560,000, cost of sales of $240,000, and operating expenses of $130,000

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Lone Star, Inc., reported sales of $560,000, cost of sales of $240,000, and operating expenses of $130,000 for the current year. Using this information, calculate the amount of net income and net income as a percentage of sales.
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Financial and Managerial Accounting the basis for business decisions

ISBN: 978-0078111044

16th edition

Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello

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